Frequently Asked Questions
Who is eligible?
South Australian individuals or groups who have an idea of how blockchain can be used to solve a problem are invited to take part in the Challenge.
To be eligible, applicants must meet the following criteria:
- Be aged 18 years or older (or have parent/guardian approval)
- Reside in South Australia (or be willing to relocate)
- Hold or be willing to obtain an Australian Business Number (ABN).
Who should apply?
- Startups and small entrepreneurial businesses
- Digital developers
- Entrepreneurs who work from within bigger entities e.g. universities
- Innovators in the fields of business, technology and science
- Blockchain enthusiasts
- Anyone with a great blockchain idea!
Can people from outside South Australia enter?
Applicants must be located in South Australia and have, or be willing to obtain, an ABN registered in South Australia. Applicants who live outside of South Australia but have a significant connection with the state will be considered on a case-by-case basis.
How do I apply?
Applications have now closed. Find out about our finalists!
When do applications close?
Applications closed midnight Monday 4 February 2019.
What is the application process?
Once applications have been submitted online, they will be assessed by the Department of the Premier and Cabinet to ensure they meet the minimum eligibility criteria. Following this, a judging panel will assess applications against the judging criteria and select finalists.
Finalists will be invited to participate in an incubation program to further develop and refine their ideas.
On 18 March 2019, finalists will be invited to pitch their refined ideas to a panel of blockchain experts and compete for a share in a prize pool of up to $100,000.
What is the judging criteria?
The judging panel will use the following criteria to assess the ideas submitted:
- Clear articulation of blockchain application
- Technical feasibility
- The potential for implementation, sustainability and scalability
- Appropriate use of blockchain technology
- The benefit to South Australia
- Project impact (e.g. economic, social, technological).
Do my ideas have to be original?
Yes. All submissions must be an original work created by applicants who must have all necessary rights to submit the entry. The entry can improve on another party's existing idea - but it must involve substantial new, original elements. Existing ideas developed or delivered in another jurisdiction cannot be considered.
How will the prize money be distributed?
A prize pool of $100,000 is available and will be awarded to the prize winners whose ideas best meet the eligibility criteria and terms and conditions. The judges will determine how many projects will be funded. It is likely three prizes will be awarded, however depending on the projects submitted there may be to up to five winners. This means prize winners will walk away with at least a minimum of $20,000 to put towards developing their blockchain idea further.
Do you have any other questions?
Contact the Blockchain Innovation Challenge team via:
Phone: 0481 904 502